Busan Hosts Global Startup Network to Empower Entrepreneurs

Busan, South Korea - On November 27, 2024, the City of Busan hosted the Global Startup Network at Startup Space 100 in Haeundae, bringing together international students and graduates with local startups to strengthen the city’s entrepreneurial ecosystem. The event, organized in collaboration with the Busan Global City Foundation and Busan Techno Park, emphasized the importance of supporting international talent to drive innovation and build global partnerships.

A key highlight of the event was the OASIS Program (Overall Assistance for Startup Immigration System), which aims to equip foreign entrepreneurs with the knowledge and qualifications necessary to establish businesses in South Korea. By providing guidance on startup visa processes and entrepreneurial strategies, the program addresses critical challenges faced by international students aspiring to enter Korea's business landscape.

Busan’s strategic vision includes transforming into a global startup hub by fostering collaboration between international students and local startups. The Global Startup Network serves as a platform for participants to gain practical insights, build connections, and explore opportunities within Busan’s entrepreneurial ecosystem.

The OASIS Program was a central focus of the event, offering participants detailed guidance on obtaining startup visas such as the D-8-4 (Technology Startup Visa) and the D-9-1 (Trade Management Visa). Attendees were introduced to a points-based system that evaluates eligibility for visa applications based on business plans, investment readiness, and other key criteria.

The program also provided practical advice on navigating the complexities of Korea's immigration and startup ecosystems, ensuring that international entrepreneurs have the resources and support needed to succeed.

Beyond the OASIS session, the event included a dynamic networking segment known as "Chang-Chang Day." This session allowed participants to exchange ideas, form potential partnerships, and share entrepreneurial visions with local startups. Such interactions are vital to integrating international perspectives into Busan’s business landscape and fostering innovation.

The Global Startup Network event aligns seamlessly with Busan's overarching strategy to position itself as a global hub for international talent and entrepreneurial innovation. Central to this vision are several key initiatives designed to attract and support both domestic and foreign innovators.

One such initiative is the establishment of Startup Incubation Centers, which offer integrated living and working spaces tailored for young entrepreneurs in high-tech industries. These centers provide not only affordable housing but also coworking spaces equipped with the resources needed to foster collaboration and innovation, creating a supportive environment for startups to thrive.

In addition, Busan is actively working to boost its appeal to international students. The city has set an ambitious target to increase its international student population from the current 13,000 to 30,000 by 2028. To achieve this, Busan is introducing a range of supportive measures, including scholarships, internship programs, and streamlined visa processes. These efforts are designed to help international students seamlessly transition from academic life to professional roles within the local economy.

On a broader scale, Busan is also expanding its global outreach to attract international talent and investment. The city has initiated programs in key markets such as Japan, Vietnam, and Singapore, showcasing Busan as a destination for innovation and opportunity. Moreover, events like the upcoming "Fly Asia 2025" expo demonstrate Busan's commitment to fostering cross-border collaboration and positioning itself as a key player in the global startup ecosystem.

The OASIS Program exemplifies Busan’s commitment to making the city a thriving hub for global entrepreneurship. By addressing key challenges like visa accessibility and knowledge gaps, the program is helping international students and entrepreneurs turn ideas into actionable business ventures. This aligns with the city’s vision to establish itself as a gateway for innovation in Asia.